This morning I Head East to Chicago for a handful of days. If you’ve wondered what a pilot sees when landing at O’Hare, here’s a mesmerizing video. (What is the tallest building in Chicago? The library, because it has so many stories.) From coast to coast lenders and vendors are eyeing the MBA’s volume predictions for 2023 and stay ahead by reducing overhead. In the furor over cutting costs, a cottage industry has sprung up helping lenders review their vendor arrangements. Given that product, price, and service are what vendors sell, products and service are usually, if not more, important than price, but companies like MTG Services review pricing schemes. (No, this isn’t a paid advertisement; contact James Zeldin with questions.) Today’s podcast, posted after 5:30AM PT, is sponsored by Appraisal Logistics, a full-service AMC licensed in all 50 states. AIM-Port’s robust integrations, custom automations, and granular reporting tools are delivering gains in efficiency and cost savings to lenders across the country.

Lender and Broker Software, Products and Services

“Are you ready to join tons of other satisfied brokers and start working with Towne Mortgage Company? Our 40 years of experience working with Brokers, Mortgage Bankers, Credit Unions, Community Banks, and Agricultural Banks means you can expect flexible solutions and reliable service. Work directly with your Underwriter, contact the Business Support Hotline for updates and technical help. As an approved FNMA/FHLMC/GNMA seller/servicer offering full Agency and Renovation product sets you are guaranteed program options and expertise at Towne Mortgage Company. “Wow is all I can say, super experience on my VA loan, quick UW, and 1 day on conditions…thanks Towne Team.” (Kim M.) Let our years of experience work for you! Get started with Towne Mortgage Company today, call (888) 653-9037or visit us.”

NEW EBOOK: How to plan for profitable mortgage lending in 2023, according to industry veterans. With interest rates volatile and loan volume uncertain, planning for 2023 might feel daunting. Luckily, mortgage solutions provider Maxwell is here to help! To arm you with confidence, Maxwell interviewed four mortgage veterans (Maxwell’s Jim Smith, CMB, Alan Parris, and Peggy Rubadue, along with Thrive Mortgage’s Donielle Geiser) on best practices to tackle 2023’s market. With this free 12-page download, you’ll receive actionable advice to better use technology to improve efficiency and drive borrower leads, grow product and channel offerings sustainably, and flex your business to changing borrower needs. Ready to view 2023 as a call-to-action instead of an insurmountable challenge? Click here to download Planning for 2023: How to Recoup Revenue, Save Costs & Drive Loan Volume in an Uncertain Market.

Revvin, the leading low-code/no-code digital lending platform, has announced its four-year relationship with First Heritage Mortgage Services (FHMS), a Credit Union Service Organization (CUSO) with over 110 partner credit unions with combined assets of over $17.8 billion. First Heritage’s white-labeled digital lending engine is now powered by Revvin, whose next generation platform embraces no-code/low-code design to enable lenders of all kinds to deliver highly tailored user experiences for both borrowers and loan officers. Revvin accelerates time-to-delivery through either pre-defined templates or customized journeys, allowing lenders to originate digital mortgages or any kind of loan profitably right out of the box. Lenders leverage the Engine’s agility to craft and deliver the intuitive experiences their borrowers demand. No other digital lending platform makes this as easy as Revvin’s. To learn more, please visit Revvin or contact Revvin.

Why are lenders still waiting until closing to collect fees? The sooner your prospects invest in their journey with you, the more likely they are to close. And with the way these credit report fees are increasing?! Sheesh. It's almost silly to absorb these costs on loans that fall out… or any, really. If you're trying to save money and improve your customers' experience, check out Fee Chaser by LenderLogix. When you integrate this solution with your LOS, you can automatically send borrowers payment requests via email and SMS. Then, using a unique payment link (secured by tokenization & backed by one of the country's leading payment gateways), they can quickly and easily pay on their device! No one holds onto the financial data, everyone receives a receipt, and 94% of borrowers using this solution pay within 24 hours. Check it out. Now is the time to adjust your fee collection process.

“Prepare for the new year by aligning with a strong financial partner and trusted advisor, Newrez Correspondent. As a member of the Newrez family of companies, Newrez Correspondent is part of a diversified group of complementary businesses designed to thrive in any environment. Our team will be headed to MBA’s Independent Mortgage Bankers Conference in San Diego on January 23–26. Contact us to schedule a meeting or to find out more about our extensive product offering (including a strong Non-QM lineup with a buydown option), processes, and the value of the partnership we have to offer.”

Are you prepared to close out the year effectively? Richey May has a few reminders to help you wrap up the year. It’s time to report leases under ASC 842, so make sure your processes are implemented over the next few weeks. If you aren’t prepared, Richey May’s mortgage accounting experts can help. New Year’s Day is on a Sunday, so plan to have someone go in and pull down your pipeline reports on Sunday morning, January 1st, so that you can minimize potential adjustments and reconciliations. If you’re prepared with both of these items, it’s a great time to run net worth calculations and make sure you have sufficient allowable assets at year end. If you need help preparing for year end, contact Richey May’s mortgage accounting experts today.

FHFA Updates via Fannie and Freddie

As Fannie Mae and Freddie Mac have rolled out updated cash-out loan level price adjustments, it’s a good time for originators to tell clients how much money they can save on their home financing by upgrading their credit score prior to close – for cash-out or any type of agency loan. In a cash-out scenario, on a $400k loan, a client would save $4,500 by moving from a 679 FICO® to a 680 FICO®. Even on a purchase, with less equity, clients can still save $4,000 by bumping their FICO® Score up a few points.

Don’t forget that Fannie Mae has unveiled updates to its Desktop Underwriter program, simplifying the borrowing process for homebuyers who do not have a credit score and making it easier for them to access traditional mortgage credit. The GSE estimates that millions of people in the U.S. are credit invisible, including a disproportionate number of Blacks and Latinos. The modification of the automated underwriting system takes advantage of long-standing capabilities that allow Fannie, with permission from the borrower, to access their savings, checking and investment accounts to verify assets, cash flow, automated paycheck deposits and other financial information.

Fannie research indicates that this type of bank-statement data makes better predictive assessments of a borrower’s creditworthiness, even for consumers with little or no credit history.

The new enhancements will make loans to borrowers with no credit history eligible for purchase by the enterprise. However, borrowers will still be subject to a 50% debt-to-income ratio maximum.

FHFA posted "National Survey of Mortgage Originations” information collection for OMB approval. In addition, FHA also published 30-Day notice of submission of information collection "Affordable Housing Program" for approval from OMB in the Federal Register.

FHFA posted White Papers incorporating major enhancements and updates reflected in the third version of the Single-family FHFA Mortgage Analytics Platform (FMAP v3.0).

Details of major enhancements and updates in FHFA Mortgage Analytics Platform Version 3.0 have been posted and can be viewed in FHFA white papers.

Now available, Freddie Mac’s CreditSmart® Housing Professionals Playbook, a suite of free educational resources that offers a mix of learning modules, curricula and online courses designed to provide consumers with the skills and knowledge to assist them through every stage of their financial capability and homeownership journey.

It’s been a busy year in Loan Selling Advisor®, full of valuable enhancements to help simplify your loan delivery process. Now, Freddie Mac is closing out 2022 with recent updates and a couple of others that are right around the corner. Learn about what’s new and upcoming.

Freddie Mac Guide Bulletin 2022-25 incorporates the 2023 conforming loan limit values into the Guide and announces other updates including Guidance for the Temporary Market Stabilization Arrangement in Florida. An expansion of the Glossary definition of “Related Person.”

An expansion of eligible donors of gift funds and gifts of equity. Updates related to excluding certain liabilities from the DTI ratio. A new seasoning requirement for a mortgage being paid off with the proceeds from a cash-out refinance mortgage. New payup options for best efforts mortgages.

Fannie Mae issued Lender Letter (LL-2022-08), Florida’s Temporary Market Stabilization Arrangement, providing guidance on the provisional acceptance of property insurance policies in Florida in conjunction with the Florida Office of Insurance Regulation’s establishment of a temporary reinsurance arrangement. Provisional acceptance of the Temporary Market Stabilization Arrangement is subject to the provisions of the Lender Letter.

Fannie Mae enhanced the user experience on the legal documents webpage by introducing a new search functionality and more download options. These features allow users to find desired forms by using a search bar, downloading a row of associated files, or navigating to specific files. Please note: Lenders must use these updated forms for loans with note dates on or after Jan. 1, 2023.

Fannie Mae issued Lender Letter, Fannie Mae HAMP Modification Termination (LL-2022-07), providing information related to the early expiration of the Making Home Affordable (MHA) Program and its impact to HAMP Modification policies. The program will expire on April 28, 2023.

Quality control (QC) independence is an essential part of a strong QC program because it preserves the integrity of the QC function. The December issue of Fannie Mae’s Quality Insider highlights strategies to maintain QC independence through your QC processes and internal audit requirements.

Capital Markets

We had a little rally yesterday in MBS and Treasury prices, nudging rates lower, following Wednesday's FOMC rate hike as other central banks (Bank of England, Swiss National Bank, and European Central Bank) followed with their own 50-basis point increases. Norges Bank also raised its policy rate, but only by 25-basis points.

These rate hikes were reminders of the burgeoning headwinds to global growth, and along with soft economic releases domestically, provoked concerns of a hard landing for the economy. Total retail sales, which are not adjusted for price changes, declined 0.6 percent month-over-month in November, worse than expected, as sales declines were logged in nearly every discretionary category. Low initial jobless claims fit the Fed's narrative that it needs to keep raising rates, making the bank more likely to overdo things. Total industrial production decreased 0.2 percent month-over-month in November, but the capacity utilization rate dropped, signaling broad-based weakness in the manufacturing sector.

Today’s lone economic data point(s), not likely to move rates, are the preliminary December S&P Global manufacturing and services PMIs, due out later this morning. Following Wednesday’s FOMC events, Fedspeak resumes with San Francisco Fed President Daly taking the stage. We begin the day with Agency MBS prices worse .125-.250 and the 10-year yielding 3.49 after closing yesterday at 3.45 percent.


Over the last decade, Highlands Residential Mortgage has become one of the nation's leading independent mortgage bankers. Headquartered in Allen, TX, the company is led by some of the industry’s most experienced leaders and former originators. The company strength is anchored by servant leadership principles and a dynamic culture that has resulted in Highlands being recognized as one of the Top Companies to Work For annually by National Mortgage News including #1 in 2019. “We have built an outstanding company with a rock-solid foundation that has always been centered on attracting high quality talent, first rate referral partners and producing some of the very best customer satisfaction ratings in mortgage banking.” Brian Bennett, President. If you are looking for world class support and a mortgage home where you are valued, we invite you to experience the Highlands difference! Contact Tim Bartosh or Scott Brown for a confidential discussion.

“A growing mortgage company is seeking super star mortgage loan officers to join our team. Tyson’s Corner VA: Are you great at your job and want to be rewarded and recognized? Trustar Bank, the fastest growing De Novo Bank in the country, is seeking experienced Mortgage Loan Officers to grow with our existing Mortgage Subsidiary, Trustar Mortgage. A rare opportunity to join a successful All-Star Mortgage Team with a De Novo Bank. We offer an excellent compensation package including salary, benefits and equity share. We are a 2022 Best Place to Work! Resume in confidence to Jayme Dungan. Principals only please. EOE”

More than a business; it’s a movement. Join the team of Kind Ambassadors shaking up the retail mortgage market. Kind Lending, LLC is actively seeking Retail Branch Managers and Mortgage Loan Officers who are looking for access to an impressive selection of products, including Non-QM, Reverse and a Jumbo suite like no other! If you or your team are looking to serve your clients with white glove customer service and a full suite of competitive loan products (and putting the “fun” in funding while doing it), join the #KindMovement alongside CEO/Founder Glenn Stearns and the team of seasoned industry veterans, poised to grow your impact in the field. Find all open positions at and submit your confidential resume today or connect with SVP of National Retail Sales, Orlando Gutierrez to learn more!

In today’s winter-like market conditions, Supreme Lending is here to help Branch Managers and Loan Officers weather any storm. While Supreme’s business model is built on ensuring our Sales teams’ autonomy, Loan Officers can rest assured knowing that Supreme will be there to back them up. The company’s National Production Services (NPS) Group can stand in for originators whenever they need them by assisting with loan origination, production support, set-up, and processing. NPS Loan Officers are licensed in every state in Supreme’s footprint. Additional originator benefits like a designated Deal Desk; dedicated teams for Jumbo, Condo, and Renovation loans; an in-house Recruiting Department; and live Branch Support further clear a path for originators to find success in a competitive environment. Support and service offerings like these are true advantages of working with a strong and resilient independent lender like Supreme. Contact National Production Manager Ryan Baxter to come in from the storm and join Supreme.